RiverNorth Capital and Income Fund (NYSE:RSF) Trading Down 0.1% – Time to Sell?

RiverNorth Capital and Income Fund, Inc. (NYSE:RSF)’s share price traded down 0.1% during trading on Friday . The stock traded as low as $14.33 and last traded at $14.3490. 1,207 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 11,448 shares. The stock had previously closed at $14.37.

Analyst Ratings Changes

Separately, Zacks Research upgraded RiverNorth Capital and Income Fund to a “hold” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, RiverNorth Capital and Income Fund currently has an average rating of “Hold”.

RiverNorth Capital and Income Fund Stock Down 0.1%

The firm’s 50 day simple moving average is $14.52 and its 200 day simple moving average is $14.56.

RiverNorth Capital and Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were given a $0.1371 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date was Wednesday, July 15th. RiverNorth Capital and Income Fund’s payout ratio is currently 109.33%.

Hedge Funds Weigh In On RiverNorth Capital and Income Fund

Several institutional investors have recently added to or reduced their stakes in the company. Palatine Hill Wealth Management LLC bought a new position in shares of RiverNorth Capital and Income Fund during the 4th quarter valued at approximately $9,666,000. Everstar Asset Management LLC purchased a new stake in RiverNorth Capital and Income Fund during the first quarter valued at $466,000. Equitable Holdings Inc. purchased a new stake in RiverNorth Capital and Income Fund during the second quarter valued at $379,000. Finally, CoreCap Advisors LLC bought a new position in RiverNorth Capital and Income Fund during the second quarter valued at $95,000.

About RiverNorth Capital and Income Fund

RiverNorth Capital and Income Fund (NYSE: RSF) is a closed-end investment company managed by RiverNorth Capital Management, LLC. The fund seeks to provide shareholders with a combination of current income and capital appreciation by employing a flexible, unconstrained fixed-income strategy. RSF invests across a broad spectrum of debt and convertible securities, aiming to capitalize on relative value opportunities in both interest-rate and credit markets.

The fund’s portfolio typically includes high-yield corporate bonds, bank loans, convertible securities, preferred stocks and other debt instruments.